Verder Scientific Inc.
11 Penns TRL Ste 300
Newtown, PA 18940
Commercial Insurance Overview
Verder Scientific Inc. is based in Bucks county in Pennsylvania. They operate in the Retail industry, specifically in Business Services Nec, which is a low risk industry. It is worth putting effort into risk management to be able to leave the Assigned Risk pool.
Having been with the same worker's comp carrier for 16 years, it may be wise to shop around. We see commercial coverage for them in 10 states including Alabama, Connecticut, Florida, Georgia, Illinois, New York, Pennsylvania, South Carolina, Texas, Virginia.
The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 3.355. A 3.355 LCM overall is a bit high, but check the market comparison below for more details. The (LCM) that they are with increased by 9% which is a significant shift. It is worth investigating why.
An Experience Mod (MOD) is a rate applied to the business. It represents how risky the business is based on past claims. This business has a MOD of... You'll need to join... Which is an excellent rating no matter the industry, and should be able to shop aggressively.
Premium Comparison
This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Verder Scientific Inc.. This can give you an idea of what carriers might best fit your business.
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Erie Ins Grp
Pol Rate: 1.50 Med. LCM: 1.50 | $1.50
32117 Businesses 2242 | |
Berkshire Hathaway Grp
Pol Rate: 2.20 Med. LCM: 2.20 | $2.20
25207 Businesses 6534 | |
Hartford Fire & Cas Grp
Pol Rate: 1.91 Med. LCM: 1.91 | $1.91 87%
22158 Businesses 2305 | |
Travelers Grp
Pol Rate: 1.32 Med. LCM: 1.32 | $1.32
14924 Businesses 1409 | |
Amtrust Ngh Grp
Pol Rate: 1.85 Med. LCM: 1.85 | $1.85
13877 Businesses 1630 | |
State Farm Grp
Pol Rate: 2.09 Med. LCM: 2.09 | $2.09
5438 Businesses 624 | |
Selective Ins Grp
Pol Rate: 3.03 Med. LCM: 3.03 | $3.03
5406 Businesses 336 | |
Markel Corp Grp
Pol Rate: 2.06 Med. LCM: 2.06 | $2.06 2%
5380 Businesses 375 | |
Proassurance Corp Grp
Pol Rate: 1.65 Med. LCM: 1.65 | $1.65
5258 Businesses 382 | |
Liberty Mut Grp
Pol Rate: 1.56 Med. LCM: 1.56 | $1.56 25%
4667 Businesses 343 | |
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Total Payroll:
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Calculate Premium Estimates
Enter the State, Mod, and Payroll for each employee class to get premium estimates from the top carriers writing that class of business
Carriers are sorted by number of accounts in that class of business.
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Market Comparison for Verder Scientific Inc.
Mod is an indication of how risky a company is to insure. It is based on a company's claim history.
- Experience Mod is very good. It is in the 17th percentile compared to peers.
- There was a recent mod decrease.
LCMs have the largest effect on your WC costs. Carriers file LCM's which are multiplied with the state approved Loss Costs for your employment classifications to create your policy rates. Carrier Groups have several Carrier Tier's each with their own filing, allowing their underwriters to price aggressively to overly prudent depending on the risk.
- The LCM of the Current Carrier is Higher than 83% of peers.
- Shopping around for a carrier that would provide a more competative tier would make sense.
- In the last year, LCM Increased by 9%. While peers Increased an average of 4%.
We measure relative change (when a business chooses a different WC provider), and market share distribution over a rolling 24 months as compared to it's industry and state level activity to determine how competitive carriers are for your class of business.
- 6% of peers have changed carriers since last year.
- Of those who changed carriers, 1.3% increased their LCM vs those who stayed with their current provider who saw a 4.3% increase.
- Current Carrier's market share is in the 99th percentile at 20.4% of the market.
Business Owners
- We don't sell insurance. Our market intelligence allows us to find the ideal commercial insurance partner.
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Agents
Our market intelligence, prospecting database, and software can streamline your new business process. This listings contains:
Policy Renewal Date
Current Carrier
Policy Number
Class Code
SIC Code
NAICS Code
Ex MOD
LCM
Multiple Locations
Multi State
Carrier Tenure
Employees
Contact Email
Contact Phone
Website
Benefits
Loss Cost
FEIN
Coverage History
Carriers & Underwriters
Our data provides an unparalleled view into the commercial insurance market across the US. Examples include:
- Competitive Account Won/Loss
- Competitive Class distribution
- Appetite Analysis
- Market Share Analysis
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